The discussion prompted reader, Bill, to write in with a great question,

“I assume that you invest a lot of that savings, but isn’t an investment in a company essentially just a vote of confidence that they will continue to produce products or services and continue to be profitable doing so? The money you earn isn’t going anywhere unless you burn it, so won’t it all just be turned back into stuff eventually one way or another?”

My response to Bill was:

“Great question with a complicated answer that I could literally write for hours about, so I’ll try to keep it simple:
1. I am not against business or capitalism. My environmental stance does not = no investing, because:
2. There are a lot of businesses that do things ethically and/or make the world a better place. You WON’T find me investing in BP, but you might find me investing in solar.
3. There’s also something to be said for me to invest, grow my wealth, so that I may donate it or reapply myself in areas where I am making the world a better place.

I think socially responsible investing (SRI) is a great thing. You may have just prompted an entire post…”

Here is that post!

What is Social Responsible Investing?

The sentiment raised by Bill has prompted an entire category of investment focus called socially responsible investing, or SRI.

While it may be tempting for those with an environmental, social, political, or other aversion to investing to dig a hole in the ground and bury their cash, to do so over the long run would be suicide.

A fear of investing can lead to an erosion of your cash value as inflation eats at your savings over time.

You HAVE to invest in order to grow your net worth and reach and maintain any sort of financial independence.

So how do you ensure your financial future through investing while at the same time not wanting to jump off a ledge out of self-conscious guilt for contributing to the destruction of the entire world from capatalistic greed? Socially responsible investing.

The Origins of Socially Responsible Investing

The first counts of socially responsible investing dates back to religious influences in the 1700′s. The Religious Society of Friends (the Quakers) prohibited members from participating in the slave trade.

One of the first written accounts comes from Methodist founder John Wesley (1703–1791), as he gave a sermon on “The Use of Money” where he outlined his basic tenets of social investing such as not harming your neighbor through your business practices and to avoid industries like tanning and chemical production.

Later, religious leaders encouraged members to avoid sinful companies, such as those that produced products like firearms, alcohol, and tobacco.

Social investing then made a move to political territory with the use of labor union pension funds and even helping to end apartheid in South Africa.

SRI Today

Socially responsible investing today still has a focus on avoiding firearms, alcohol, gambling, defense industry, and tobacco, but there is an increasingly larger focus on human rights issues and community investing (putting money into under-served communities as an investment strategy) as well.

You can buy SRI focused mutual funds, index funds, ETF’s, or even implement your own socially responsible investment strategy.

SRI has been turned to by many for its focus on environmental issues as global warming and other environmental threats compound with economic growth. Institutional and individual investors have been doing this in a number of ways:

• by screening out oil, coal, gas, and other fossil fuels
• by screening out companies that don’t have a strong environmental track record
• by favoring companies that use more alternative and renewable energy versus their peers
• by favoring companies that manufacture alternative and renewable energy solutions

Not Just for Charity

Whatever the purpose, SRI has become EXTREMELY big business. According to the Forum for Sustainable and Responsible Investment, $3.07 trillion out of $25.2 trillion in the U.S. Assets are growing much faster than non-SRI focused assets.

According to Kiplinger Magazine, there are now 493 mutual funds with assets of $569 billion versus 55 funds and $12 billion in assets 20 years ago.

When I first learned about socially responsible investing 8 or so years ago, the performance was not there versus the broader market. Today, however, that’s no longer the case. It is possible to have a social investing conscious without having to pay a tax or fee in the form of poor performance. For example, one of the SRI giants, the Calvert Equity Fund (CSIEX), has gained 6.9% annually over the past 15 years, vs. 5.5% for the S&P.

It is quite possible to build for your future while not hating yourself, after all.

On the flip side, SRI is not the only way to do this. Every time you make a purchase or give a company money, you are directly influencing their business. As a consumer, you wield a lot of power (i.e. don’t like big oil or gas guzzlers, switch to a more fuel efficient car or bike).

Others make the argument that you should invest where you get the highest return on investment and then use your proceeds in responsible ways to have an even bigger impact.

Why not practice all three?

SRI Discussion:

• Have you invested in socially responsible investment strategies yet? Why or why not?
• Have you avoided investing altogether for ethical reasons?
• If you are using SRI, what have you invested in?

Related Posts:

• Consumers Need 12-Step Programs Too
• How to Start an Online Investing Account

What is SRI? An Intro to Socially Responsible Investing is copyrighted by 20somethingfinance.com without consent to republish.

But occasionally there are inventions that come along that harness great power to truly make a world-changing impact, while at the same time saving or making you significant money. And part of my Earth Day contribution this year will be to highlight a few of these inventions.

One of my favorite such inventions is Craigslist.

I love me some Craigslist. And I’ve written about it a lot here, as its been a huge contributor to my frugal lifestyle. And if you haven’t yet taken full advantage of its power, I’ll try to do some heavy convincing ahead…

Craigslist is a One Stop FREE Shop

You can find a job on Craigslist, an apartment to rent, a car to buy, a home, rideshare opportunities, volunteer experiences, free items, bartered services, or even a “casual encounter” if you’re lonely.

I’ve done all of the above (minus the encounter, I’m married people).

Outside of selling my car on Craigslist (a $12,000 transaction), I’ve been able to sell between $3-$5K of items on Craigslist.

The smaller ticket items that I didn’t sell on Craigslist were sold in a garage sale.

How did I advertise for the garage sale? Craigslist.

I almost sold my first house on Craigslist for sale by owner (FSBO), but it fell through at the appraisal stage (later, a good ole’ fashion flyer brought in the eventual buyer). Craigslist was driving 20+ visits a day to a website I had created to advertise the home. Had the house sold, my total Craigslist transactions would exceed $150K and I could attribute about $8K in realtor commission savings to Craigslist.

I’ve also been a bit creative with Craigslist.

I was able to get some free landscaping by having an ad respondent come and dig out a tree they were interested in. They got the tree, the tree’s life was saved, and I got free landscaping. Win, win, win.

But my favorite Craigslist story was the time that Craigslist saved me from homelessness as I jumped from sublet to sublet to sublet (saving $1,700) in the process.

Craigslist is always good for a few laughs and stories, if nothing else.

The Environmental Impact of Craigslist

Perhaps the biggest benefit of Craigslist (which will be its lasting legacy) is that you can find perfectly good (almost new) used things on Craigslist at a fraction of the price you would have to buy new.

Should you get tired of those things, you will likely be able to re-sell them on Craigslist for roughly the same (assuming it is still in good working condition) as what you bought it for. In the process, you’ve essentially borrowed the use of that item for almost nothing. Buy a dining set for $50, move 5 years later, and sell it for $50? That’s the circle of life.

If you fix something up you may even make money on the ownership. Why would you buy new?

In buying or selling used on Craigslist, you have:

• saved money (buyer)
• made money without incurring advertising costs (seller)
• given back to your local community
• kept money and the product local
• potentially made a new friend
• kept an item out of the landfill
• kept an item from being produced, and reduced your environmental impact in the process
• reduced shipping packaging and CO2 to move a new item from warehouse to your doorstep
• repeated the process so the next person can benefit

What more could you ask for than that?

As more and more folks use and have positive experiences with Craigslist, it will become even more useful. But even over the past 9 or so years I have been using it, I have been able to sell just about everything I’ve put up on Craigslist.

It is hard to measure the environmental impact of a business or website, but would any come close to matching the positive contributions Craigslist has made? Doubtful.

Thank you, Craigslist, for saving me money, and indirectly doing amazing things to help save the planet.

Craigslist Discussion:

• What’s your favorite money and/or planet saving Craigslist story?
• What huge transactions have you made over Craigslist?

Is Craigslist the #1 Money & Planet Saving Invention EVER? is copyrighted by 20somethingfinance.com without consent to republish.

That’s a lot to accomplish in one blog post, so let’s get started…

Falling in Love All Over Again

I grew up with a hearty love for the outdoors.

Almost every waking minute was spent climbing trees, chasing frogs in the neighborhood creek, or visiting the local nature center or hiking trails. Oh, and riding a goofy looking (by today’s standards, it was kick-ass back then) single-speed Raleigh banana-seat bike, outdoors of course. I was like most kids in the early 80′s – in love with nature and the outdoors – whether I consciously knew it or not. It happened… naturally.

I didn’t watch much TV when I was younger, but when I did, one of my favorite television show (outside of WWF big time wrestling) was Marty Stouffer’s Wild America on PBS. Marty was a lumberjack-looking bearded fellow who would chase down and film wild animals in the good ole’ U.S. of A. Seeing the battle between life and death in untouched wilderness was mesmerizing.

I was not, however, raised with an environmental conscience. My parents (members of the the most wasteful generation on the planet, the Boomers) didn’t recycle much, built a large home in the burbs with a big commute, ate standard meat and potato fixings, and bought me most of clothes, toys, and video games my entitled, bratty-ass demanded.

Somewhere around middle school through high-school I got completely absorbed by video games, grunge music, and cable TV, minimum wage shit jobs, uninspiring school work, and teen angst. Looking back, it wasn’t the best period in my life and the fact that I spent very little time outdoors was undoubtedly a strong contributor.

In one of my social science courses in college, I read Daniel Quinn’s Ishmael. Being forced to read it in class, it didn’t really have an impact. But a year later, something was calling me back to the book. I hunted it down and immediately consumed it all in a day. This time, the message sunk in like a huge punch to the face: “This lifestyle that our recent ancestors have designed and we have adopted is far from natural, and it could end up destroying the entire planet.”

As I was dealing with the environmental ethical dilemmas presented to me in Ishmael and other books I started absorbing, I realized that I missed being outside. I began biking for the first-time in years. I re-discovered some of the nature trails I loved when I was younger and hiked them frequently. And I started to realize the healing power that nature provided. Every time I got outside to do something, my stress levels would go down, my angst would subside, my thoughts weren’t as cluttered – I was living in the moment.

This spiritual gift from the planet (which had already provided me life, food, air to breathe, shelter, and water to drink) grew my appreciation for the earth. I wanted to give back. I interned at an environmental protection group. I started thinking big picture about my impact on the environment and started doing little things to reduce my impact. I recycled whatever I could, made sure lights and the TV were turned off when I left my dorm room (where utilities were not an added cost), started taking shorter showers – the easy stuff.

Making the Impact Reduction/Wealth Connection

My focus has since grown with each passing year, with the more I learn about the impact of my consumption behaviors and how I can cut back. Some of our accomplishments include:

• Driving our electricity consumption to less than a third of the average household for my state (I eventually want to purchase a solar array and get this below zero).
• Keeping our non-recyclable waste down to around 3-4 gallons of volume per week (my goal is zero).
• Selling off our second car to become a one-car family and busing/biking to work (as soon as wife stops drive to/from school, our annual miles will be less than 3,000).
• Getting rid of half my personal belongings while selling on Craigslist, in a garage sale, or donating 100% of it.
• Moving to a smaller home instead of a larger one (and wanting to go even smaller).
• Switching to a vegetarian diet (HUGE impact on the planet and on personal savings).
• Eating almost 100% organic food (I want to grow my own and purchase more from local producers).
• Consuming much less to the level of keeping our combined expenses to less than $20k per year.

I’ve come a decent ways vs. the standard, but I also have A LOT of room for improvement. I am continually striving to do better. And I put an immense amount of pressure on myself to do so. There’s no going back for me.

If you are just starting out, don’t get discouraged. Most of us were born following in the footsteps of the wasteful Boomer legacy. We all have to start somewhere.

You’ll notice that each of the improvements I’ve highlighted have the benefit of not only reducing my impact on the environment, but also driving my expenses into the ground and my personal savings rate to rare levels.

As my interest in personal finance has grown at the same time, what I’ve come to realize is that impact reduction and personal wealth are 100% correlated.

My Hard-Line Approach

When you live in one of the most wasteful, consumer-driven countries on the planet, it is expected that you will follow suit. When you don’t, you are provided with an immense opportunity to prosper. There is a very tight marriage of impact reduction and personal finance.

That’s why you’ll find a gigantic eco-savings category of articles here. It’s why I laid down the electricity savings challenge (more than a dozen of you have started monitoring your energy, FTW). It’s why I had a dramatic counseling session with Mother Earth. It’s why I hate Black Friday. And it’s why you’ve seen me take a very hard-line approach to the negative impacts of wasteful consumerism and those who advocate on its behalf.

Despite a few snapperhead troll reader’s efforts to make my environmental stance a political debate and tell me what an idiot I am, nothing about the following stance is political:

Humans have an ethical responsibility to their fellow humans, future generations, and themselves to reduce their negative impact on the very thing that gives them life – the earth. And in the process of doing so, they will prosper economically and spiritually. If they don’t, the consequences to the planet, themselves, and the human race will be catastrophic.

I don’t care if you are Republican, Democratic, Green, Socialist, Libertarian, American, Chinese, black, white, red, yellow, purple – if you can get behind this line of thinking, you are part of the solution. If you can’t, what better alternative do you have to provide? I beg of you to tell me.

Some who share these beliefs have thrown up their arms with a sense of hopelessness when they see or hear of all of the environmental degradation. At times, I have been there myself.

I still think there is hope. There is a small, but quickly growing movement. But the window of opportunity is quickly closing.

Do you need some motivation to join the movement or take it to the next level? Check out the Story of Stuff and read Ishmael. Then get out and start doing things.

It starts with YOU. No more chirping. Start taking action. Save your money while reducing your impact and everyone wins – especially YOU.

Impact Reduction Discussion:

• What is your personal story on why you want to make a difference by reducing your impact on the planet?
• What things have you done that have the dual benefit of reducing impact/increasing wealth?
• What are you pledging to do this year to make a difference?

The Marriage of Impact Reduction & Personal Wealth is copyrighted by 20somethingfinance.com without consent to republish.

The obvious goal was to raise self awareness around wasteful and unnecessary electricity costs and then taking action to reduce costs and my carbon footprint.

The biggest of the changes I implemented included:

• leaving my printer, blender, and a laptop unplugged except when being used
• enabling a 5-minute sleep mode on my desktop computer/monitor
• reconfiguring my Blu-ray player so that I could leave it off and no longer running other media through it

February 9 – March 12 was the first full month I had implemented the changes I learned from my electricity cost experiment. And the official metered results are in.

The Results?

I used 7.78 kWh/day this February vs. 10.0 kWh/day last February.

That’s a 22% drop!

Major variables vs. the same month last year were consistent:

1. no trips taken that would have resulted in lower energy use this winter.
2. no new higher efficiency appliances to replace inefficient ones.
3. weather doesn’t impact my electricity bill in the winter, when I’m not running air conditioning or a fan.

So most, if not all, of the savings are likely due to the changes made.

The Positive ROI and Environmental Impact

The $30 Belkin energy monitor device I used to run the experiment will pay itself off in about 4 months. Every month after is positive ROI.

I’ve also started sharing the device with family members so that they can realize cost savings. Friends are next. Then I will sell it for almost what I bought it for and someone else can continue the cycle.

Think of the environmental impact! If say 10 households do the same as I have, I will have, in-effect, vicariously cut the entire carbon footprint of my household multiple times over!

The Electricity Use Challenge!

With the positive financial and environmental impact, I am issuing an electricity use challenge to 20somethingfinance readers. It takes 3 steps to participate:

1. Proclaim you are taking the challenge!
2. Run the test.
3. Report back with your expected cost savings in the comments and then start making the changes.
4. After your first full billing cycle with the changes, report back here and share your electricity savings vs. the same month in the prior year (note: use kWh per day in the event your billing cycle # of days varied).

This experiment will actually take a little bit of focus and time to play out, but those who take it on can forever bathe in their own awesomeness, save some money, and cut their carbon footprint. What more could you want than that?!

Have you already run the experiment? What were your results?

Related Posts:

• 12 Utility Company Rebates to Grab
• 2012 Energy Tax Credits
• Electric & Hybrid Tax Credits by State

How I Cut my Electric Bill by 22% with a $30 Device. PLUS: Take the Electricity Use Challenge! is copyrighted by 20somethingfinance.com without consent to republish.

The rebate program section was not easy to find and was not linked to from their home page. I had to do a bit of digging to find it. But once I did, I was slightly shocked at all of the rebates and incentives on home energy improvements that my dirty, old-school utility company was offering.

Turns out that they earmark a budget to each program every year. On the website, the browser can see a gauge of the percentage of funds that have been used for each program. If your utility company does it the same way, it would make sense to look for a new list of rebates at the beginning of every calendar year, versus the end when the funds may be used up.

Your mileage may vary from mine, but I would highly recommend you check out both your electricity and gas provider’s websites to see what kind of incentives they are offering. Any time you can get something for free or at a discount that helps you lower your energy costs AND reduces your carbon footprint, it is worth it. It is the smart and responsible thing to do.

It may take a bit of digging, but I’ve provided a list of 12 incentives I was able to find to aid you in your search…

1. Appliance Recycling

Want to upgrade that old fridge that burns through hundreds a year in electricity to an Energy Star version? My utility offers a $40 rebate on the new fridge and will haul your old working appliance away for free. If you’re lucky, the retailer you bought from won’t charge you to haul away the old appliance, let alone give you money to do so (and recycle the old unit for peace of mind).

2. Free Electric Vehicle Plug-In Station

If you’re interested in a plug-in electric car like a Chevy Volt or Nissan Leaf, you’re probably dreading the cost of having to pay thousands for a plug-in station. My utility offers the first 2,500 customers who purchase a plug-in vehicle to receive a separately-metered, 240-volt charging station (up to $2,500 value) free.

3. CFL’s

CFL’s significantly reduce your lighting expense (LED’s even more so) and produce a positive ROI in a short time. My utility offers $1.50 off the purchase of qualifying Energy Star CFLs retailing for $2.50 or more and also partners with a number of retailers to offer $0.99 CFL’s to their customers.

4. Programmable Thermostats

Programmable thermostats are an absolute no-brainer. They will result in a positive ROI in year one if you used properly. My utility is throwing in a $20 mail in rebate for programmable thermostats to encourage you to install one (which is much easier than it may sound).

5. Clothes Washer

Has your old clothes washer died or do you simply want to save money on electricity or water in running it. Check your utility company for a rebate before buying. Mine offers a $50 mail in rebate for Energy Star washers.

6. Furnace Tune Up

Proper furnace maintenance can help you save money in the long run through improved efficiency and less bigger maintenance later on. Your utility may offer a forced air furnace diagnostic tune-up rebate. Mine offers $50.

7. High Efficiency Furnace

Even though the furnace energy tax credits have ended, my utility company was still offering huge rebates on high efficiency units.

• 95% AFUE natural gas furnaces are eligible for a $400 rebate
• 92% AFUE natural gas boiler are eligible for a $450 rebate

8. Water Heaters

Super high efficiency natural gas water heaters with an  EF .67 or higher are eligible for a $75 rebate from my utility.

Tankless natural gas water heaters with an EF .82 or higher are eligible for a $100 rebate from my utility.

9. Home Energy Consultation

My energy company is offering to come out to your home to provide an energy assessment and make energy savings recommendations.  While they are there, they’ll install the following products:

• Energy Star compact fluorescent light bulbs
• Water-saving faucet aerators for kitchen and bath
• Water-saving showerheads
• Water heater pipe wrap

The cost? NOTHING!

10. Free Energy Efficiency Kit

I took advantage of this offer. In completing an online energy audit, my utility sends out an energy efficiency kit, which included all of the items listed in the home energy consultation – CFL’s, shower head, pipe wrap, aerators, and more.

11. Home Energy Audit

Have you wanted to schedule a home energy audit on your home, but have shied away from the cost? Your utility may offer a rebate – mine offers $150.

12. Insulation and Weatherization Upgrades

After getting that discounted home energy audit, you would be eligible for the following rebates on upgrades:

Utility Company Rebate Discussion:

• Have you taken advantage of any utility company rebates or incentives? What did you get?
• What is your utility currently offering up?
• If your utility offered these rebates, would you use them? Why or why not?

Related Posts:

• 2012 Energy Tax Credits
• Electric & Hybrid Tax Credits by State
• How Much Electricity Costs to Power Appliances

12 Utility Company Rebates & Freebies to Grab at the Beginning of the Year is copyrighted by 20somethingfinance.com without consent to republish.

When it comes to budgeting, however, micromanagement should be embraced (don’t let anyone tell you otherwise).

Any time you are able to not only save yourself some money, but also reduce your negative impact on the planet, that’s a beautiful thing.

One of the areas you can do this with is your household electricity consumption.

I decided to do a little experiment around my house with all of my electricity powered devices and share my findings on their electricity usage with you. My main goal was to find out how much electricity I was wasting and cut that down as much as possible.

How Much Does Electricity Cost for Common Household Devices?

For a long time, I have had a pretty general idea of what my electricity bill has been.

Outside of July and August, when the electricity cost of air conditioning inflates my bill (muggy Michigan summers), a typical month for me is right around $50.

I’ve done a lot of things to keep my electricity cost down, which include:

• every bulb in the house is a CFL or LED.
• I unplug devices I rarely use.
• I keep lights turned off when I’m not in the room and during daylight hours.
• I turn my desktop computer off when I’m not using it.

But I’ve always thought that I could do more.

The problem was that I had no idea how much electricity cost each household device was generating.

I had some nagging questions that I wanted answers for:

1. does it cost anything to leave a phone charger plugged in?
2. what about a laptop charger?
3. how much electricity does my desktop computer use in sleep mode vs. awake mode vs. off?
4. how much electricity does my DVR use in sleep mode vs. awake vs. off?
5. is my TV sucking up energy when turned off?
6. which of my appliances are using standby power?

I found answers to all of these questions and a few added surprises…

Electricity Monitoring Device Use

In order to do this test, you will need an electricity monitoring device. There is no getting around that.

Hopefully you can learn from my tests, but your personal devices may vary. In other words, there is little universality in electric use. If you want exact numbers for your situation, you will need to get an electricity monitoring device of your own.

There are two inexpensive and reputable devices on the market that both have great reviews:

Belkin Energy Conserve Electricity Monitor: $29.99 (qualifies for free super saver shipping). The Belkin measures watts, cost per month and year, and CO2 emissions per month and year.

P3 International Kill-A-Watt Electricity Usage Monitor: $19.99 (qualifies for free super saver shipping). Kill-A-Watt calculates volt, watt, amp, hz, kwh, and expenses per day, week, month, and year.

I opted for the Belkin because the company is more familiar to me, the device seemed very simplistic, and it calculates CO2 emissions (the P3 does not), in addition to electricity cost. But either should get you what you’re looking for.

Electricity Use Per Device Test Results

The following data is the result of my tests. Note that I used $0.15 per kWh for my calculations. Your cost may vary per your utility company (the Belkin allows you to customize).

Also note that there are, in many cases, multiple tests for each device based on how it may be used (i.e. laptop fully charged vs. charging).

Data shown is in the format of: device tested: watts drawn, $ to power per year, CO2 emissions per year (in lbs.), and lessons specific to each. I did not test things that I used very randomly and for a specific purpose (i.e. an engaged blender or toaster), rather my goal was to find where electricity was being wasted by keeping things plugged in.

• CFL bulb lamp, off (40W):     0W    $0.00    0 lbs. – there is no need to unplug lamps.
• CFL bulb lamp, on (40W):    41.8W    $54.17    442 lbs. -  I am surprised even CFL’s use this much electricity. Turn your lights off when you don’t need them on.
• Macbook, charger-only:     0W    $0.00    0 lbs. – this is not universal on chargers. Gave me a sigh of relief though, b/c I always leave it plugged in.
• Macbook, charging engaged:    60w   $77.76    650 lbs.
• Macbook, charging closed:    44.7W    $57.93    473 lbs. – not much difference between engaged and closed, when charging.
• Macbook fully charged, closed:    0W   $0.00    0 lbs. – good to know that the adapter shuts down when a Mac is fully charged.
• Macbook fully charged, engaged:    28W   $36.29.00    144 lbs. – not as low as expected.
• Acer laptop, charger-only:    1.1W    $1.43    11.6 lbs. – it’s not much to keep it plugged in, but it’s still wasteful.
• Acer laptop, charging engaged:    43W    $55.73    440 lbs.
• Acer laptop, charging closed:    17W    $22.03    190 lbs.
• Acer laptop, fully charged, engaged:    24W    $31.10    240 lbs.
• Samsung smartphone, charger-only:    0W    $0.00    0 lbs.
• Samsung smartphone charging:    6W    $7.78    57 lbs. – this is much cheaper than expected.
• Samsung smartphone charged:    1.7W    $2.20    17.2 lbs. – also much cheaper than expected.
• 0.5W LED nightlight:    0W    $0.00    0 lbs. – my LED nightlight for my bathroom uses so little electricity, it doesn’t register on the energy monitor.
• Black & Decker toaster, not engaged:    0W    $0.00    0 lbs.
• KitchenAid Blender, not engaged:    1.5W    $1.94    16.8 lbs. – surprising in that my toaster does not use any energy when plugged in. Will keep unplugged. $1.94/yr. saved.
• Vizio 42″ LCD TV, off:      0W    $0.00    0 lbs. – my TV uses so little energy when turned off, it does not register. Surprising, and I’m thankful.
• Vizio 42″ LCD TV, on:    230W    $298.08    2425 lbs. – wow, talk about an energy hog.
• Comcast DVR, on:    32.4W    $41.99    345 lbs.
• Comcast DVR, off:    31.2W    $40.44    330 lbs. – this was the surprise of this test. A Motorola Comcast DVR uses as much energy when turned off as it does on.
• Sony BluRay, off :   1W    $1.30    10.7 lbs.
• Sony BluRay, on:    16W    $20.74    172 lbs. – I had been leaving this on b/c it is so slow to start up. Not anymore. $20/yr. saved.
• Super Nintendo, off:    0.7W    $0.91    7.4 lbs. – awesome that this is the only gaming system listed, no?
• Super Nintendo, on:    6.6W    $8.55    71 lbs. – wow, an energy sipper.
• Printer, off:    2.6W    $3.37    27.1 lbs. – another surprise. I will be unplugging. $3.37/yr. saved.
• Printer, on, not in use:    5.9W    $7.65    63 lbs.
• Cordless phone base, w/phone:    1.6W    $2.07    17.2 lbs. – very cheap!
• Cordless phone base, w/o phone:    0.9W    $1.17    10.2 lbs. – very cheap!
• Paper Shredder, plugged in, off:    0W    $0.00    0 lbs.
• Acer Desktop Computer, off:    1.7W    $2.20    18.6 lbs.
• Acer Desktop computer, on, awake:    45W    $58.32    475 lbs.
• Acer desktop computer, on, sleep:    3.3W    $4.28    35.5 lbs. – I can’t believe how cheap my desktop on while asleep. Only $2 per year vs. off!
• Acer 20″ LCD monitor, off:    0W    $0.00    0 lbs.
• Acer 20″ LCD monitor on, awake:    23.5    $30.46    250 lbs.
• Acer 20″ LCD monitor on, sleep:    0W    $0.00    0 lbs. – just as the TV, a big surprise.
• Ooma VOIP device, on:    6.6W    $8.55    70 lbs.
• Netgear wireless router/modem, on:    7.8W    $10.11    83.6 lbs.
• LED Alarm Clock:    1.6W    $2.07    16.8 lbs. – cheap! Might as well put the phone away unless you want to declutter.
• Refrigerator, closed (no light) and not running:    0W    $0.00    0 lbs.
• Refrigerator, open with light on, not running:    41.7W    $54.75    442 lbs. – that little light in the fridge is not cheap.
• Refrigerator, closed (no light), running:    155W    $206.00    1808 lbs. – this highlights the importance of a good fridge and keeping the fridge door shut.

Here are some general learnings on electricity costs from the above results:

• No need to unplug lamps, but even CFL’s are not cheap to keep on. Turn off the lights when you leave the room! Despite their improvements, light bulbs are still one of the biggest electricity vampires. LED’s are a beautiful thing.
• Change the setting in your computer to have a 3 or 5 minute sleep mode delay versus 30 minutes or never. This could save you dozens of $’s per year.
• If you don’t have your DVR set to record shows, unplug it. It could save you $40+ per year vs. just turning it off!
• Some chargers left plugged in drain energy, but most don’t. If they do, it is not much. Better to not be wasteful though.
• I was not expecting to find my blender using energy when not in use. You never know which appliances are vampires. Better to test and have definitive answers than always wonder and feel doubt or even guilt.
• DVR’s are never really “off”. My DVR essentially adds another $4 to my cost of cable every month.
• Perhaps the most important lesson of all: electricity is still incredibly cheap and incredibly polluting. To think that just $1 of electricity costs equates to about 7.5 lbs. of CO2 emissions is disgusting. If there is any hope for this planet, it lies with solar and other renewable energies.

I estimate that the changes I will make from these learning’s will save me about $75 per year on electricity costs at the $0.15 kWh price. That’s more than 10% of my entire electric bill. As the cost of electricity increases (and it will) that $ amount will only go up every year. I more than made my $30 investment in the Belkin energy monitor back in just the first year, and after I let all of my friends and family borrow it, I can sell it.

If this topic interests you, check out my entire series on eco-friendly cost savings.

Electricity Cost Discussion:

• Which of these findings surprise you?
• How much is your monthly electricity bill, on average?
• Have you run an experiment like this? What were your findings?

Related Posts:

• 2012 Energy Tax Credit
• Electric & Hybrid Tax Credits by State
• The Cost of Bottled Water vs. Tap
• How to Use Watzon to Cut your Energy Use

How Much Electricity Costs to Power Household Devices & How to Cut your Usage is copyrighted by 20somethingfinance.com without consent to republish.

If you were planning a modest home improvement update that would save you future energy costs and reduce your carbon footprint in the hopes that it would be partially funded by a home energy tax credit from the IRS, you may be disappointed in 2012.

There still are energy tax credits in 2012, but they have been significantly reduced. With the 2011 energy tax credit, you could claim a 10% tax credit on some very common money-saving home updates, which included:

• HVAC: Air conditioning (AC) and furnaces
• Windows and doors
• Roofs
• Water heaters
• Insulation
• Biomass stoves

Unfortunately, all of these tax credits disappear in 2012 – probably due to the inability to Congress to agree on any sort of spending plan. It wasn’t long ago (2009-2010) that the American Recovery and Reinvestment Act offered up fantastic 30% tax credits up to $1,500. Now that we have “recovered”, that is gone.

30% Energy Tax Credits in 2012

What you are left with for energy tax credits in 2012 are fairly generous 30% tax credits on huge energy installation projects that are geared towards environmental die-hards:

• geothermal heat pumps (no upper limit, both principal residences & second homes apply)
• solar energy systems (no upper limit, both principal residences & second homes apply)
• small wind turbines (no upper limit, both principal residences & second homes apply)
• fuel cells (up to $500 per .5 kW of power capacity. Principal residences only)

For more info, check out the Energy Star Energy Tax Credit site.

Related Posts:

• 2012 Tax Rate Brackets
• The Child Tax Credit
• 2012 IRS 401K Contribution Limits

2012 Energy Tax Credits Reduced is copyrighted by 20somethingfinance.com without consent to republish.

It wasn’t always this way. For millions of years, humans lived in harmony with the planet – only using the renewable resources needed to survive. No waste. No ills on the environment.

Not us. Our “advanced” modern family typically boasts:

- a 2,000 sq. ft. home  made with tons of non-renewable materials

- two cars and a recreational vehicle or two

- enough clothes to suit the neighborhood

- food packaged in multiple layers of non-biodegradable plastic or aluminum

- the average U.S. CO2 emissions per person, is 20 metric tons, compared to a world average of four tons

- TV’s, phones, computers, stereos, appliances, light fixtures, furniture – all replaced every few years…

This is all stuff that is not going to disappear or biodegrade. Advertising, peers, and our governments encourage this wastefulness from the moment we are born. Our entire economy depends on it. But infinite use of finite resources is not a sustainable economic, societal, or planetary model. Tens of billions of wasteful, consumer-driven humans perpetually living the same as Americans do for generation after generation equals a catastrophic collapse in the not too distant future.

Does anyone doubt that we’ve taken this consumer thing way too far? If so, do a Google image search for Pacific trash vortex (there is a growing ring of trash the size of Alaska in the Pacific Ocean as many countries just dump their trash in the water), watch “The Story of Stuff“, take a look at some of these pictures, or head on down to your nearest friendly local landfill for your next Sunday picnic.

Now that I’ve thoroughly depressed you and myself, lets move on to something a bit more constructive…

Consumerist Anonymous

I’ve always had strong inclinations to doing what’s right for the environment and have even dedicated an entire section of the site to cost savings that also help diminish your impact on the environment. However, I’ve never pieced it all together and made it a way of life. I’ve fallen off the wagon many times.

So I decided to express my heartfelt regret over past purchasing habits via a virtual apology/counseling session with Mother Earth and go public with it. It serves as the first step of my recovery as a mindless consumer. This is not tongue-in-cheek. These are real sentiments. And since this is a safe place. I’d encourage you to share your thoughts with the group as well. Who knows, you might just save some serious cash as a side effect.

My Chat with Mother Earth:

• Me: Mother Earth, please forgive me. I’m a recovering consumer. I’ve spent tens, hundreds (if you include my home) of thousands of dollars on stuff. Stuff that will all likely end up in a landfill or in the oceans somewhere. And despite all the hurt it has caused others (namely wildlife, you, and future generations of humans), I’ve continued to do so. I’m sorry. It’s inexcusable. It’s senseless. But I’m trying to get better. I want to get better.
• Mother Earth: My son, taking responsibility and desire to change is the first step towards the healing process. Have you tried quitting cold (non-refrigerated) turkey?
• Me: I don’t even think that is possible anymore. I wouldn’t know where to get food, clean water, shelter, or do anything without modern technologies.
• Mother Earth: What about moving to one of those remote islands or in the middle of the Amazon to try to infiltrate with one of the last remaining tribes that live in harmony with me before they are overtaken by your tribe of consumers?
• Me: I don’t think they’d take me. I don’t know how to hunt, build a shelter, cook from scratch, or even start a fire without modern tools. And I hate mosquitoes.
• Mother Earth: Yeah, you are pretty useless… err… I mean, you’re probably right…. hmm…. well, why don’t we start by discussing the things you CAN change in the short term to wean yourself off of this consumer addiction.
• Me: OK.
• Mother Earth: What makes you happy?
• Me: Well, I recently posted a list of the top 10 things money can buy that made me happy.
• Mother Earth: I see. Well, I don’t see ‘stuff’ or ‘toys’ on that list. I see food, drink, and shelter – but those are necessary for survival. Even tribal folks need those things.
• Me: Yeah, you’re right. Even though I’m addicted to consuming things… that consumption doesn’t really make me any happier over the long term. The short-term thrill wears out quickly.
• Mother Earth: Stuff doesn’t lead to your happiness. That’s an important insight. What about those necessary things like food and shelter? How can you consume less in those areas?
• Me: Well, I suppose I could put in a garden and start growing more of my own food. I could raise some chickens (my city just started allowing that). I could buy a share in a CSA – they grow and box up locally grown veggies and fruits that I can pick up. I could even start a produce share in my neighborhood. And I should also be more careful to buy only food that comes in renewable, recycled, or biodegradable packaging.
• Mother Earth: And let’s not forget buying stuff in season. A lot of food out of season travels thousands of miles to get to your local grocery store.
• Me: Yeah. I guess I could go without bananas.
• Mother Earth: Yes, you could. And drink?
• Me: Well, I mostly drink tap water. Tap water is cheaper than bottled water by a factor of over 2,000X, so that’s a no-brainer. And I buy beer from local microbreweries and wine made in my state.
• Mother Earth: That’s a start. You could also homebrew more and make your own wine to cut down on transportation and material waste. Or, just don’t drink at all. We’ll save that discussion for another day. Now that we have food covered, let’s chat about shelter.
• Me: I live in an older home right now. It’s ‘only’ 1,000 sq. ft. with a basement. Small by U.S. standards, but much more space than I really need, especially since I have been selling stuff on craigslist like mad. But I’m thinking some day I want to build move into a tiny home that is much less maintenance and much more energy efficient.
• Mother Earth: Good. If you do build, just make sure you used reclaimed materials to do so. And don’t add to urban sprawl. Find an old urban lot.
• Me: I will.
• Mother Earth: The only other necessity I can think of is clothing.
• Me: Yeah. That’s a problem. I’ve bought way more than I could ever wear. And the stuff I do wear usually wears out rather quickly. I have been donating a lot of it lately, so at least there’s that.
• Mother Earth: I’d also recommend opting for durable, locally made fabrics, when possible. It’s better to have a few high quality clothes than many cheaply made pieces flown in from China. And don’t forget to repair or re-purpose things when possible. That pair of jeans you have with the hole in the crotch can be fixed.
• Me: Yeah, I was about to throw ‘ole blue’ away. Good call.
• Mother Earth: What else is left?
• Me: It’s mostly just “stuff” after that. Stuff I use to make my life easier.
• Mother Earth: Does it make your life easier?
• Me: Well, it mostly does.
• Mother Earth: If you sold most of your “stuff” would your life be harder?
• Me: Hmm… Now that I think about it… probably not.
• Mother Earth: Exactly. All that stuff pulls at you. It requires maintenance, storage, fixing, replacing… you get the idea. And for the stuff you really do need, I can guarantee you can buy it used locally for much cheaper and repair it if it does break. With Craigslist, Freecycle, and borrowing from neighbors – there is really no durable good you should have to buy new.  To free yourself from most of it will be liberating – those tribal folks only take what they can carry on their back when they move. Make that your goal.
• Me: I’ve got a lot of work to do.
• Mother Earth: Yes, but it should be rewarding work. Also, don’t get caught up in technological “advancement”. Yes, Blu-Ray looks great, but your DVD collection is just fine and would cost a boatload to replace. Your goal should be to make the existing technology last as long as it possibly can. And don’t buy any new technology. Remember the happiness thing we discussed. Happiness derived from these products is fleeting, at best.
• Me: Yeah… but cassette tapes sucked.
• Mother Earth: Yes. Yes, they did. Anyhow… you get the idea. Make sure that for everything you get rid of, you either sell it, give it away for free, or donate it. To do so means that someone else will get use from it and they in turn will hopefully be as responsible as you. This keep things out of the landfill. And whenever you purchase something envision that item ultimately ending up in the landfill or floating around in the ocean for some marine animal to choke on. Or what if you had to throw that stuff in your back yard? Just because it’s no longer in your presence does not mean it has disappeared or vanished into thin air. Waste “management” is the only thing keeping this consumer runaway train on the tracks as it blinds everyone to the reality of how wasteful we really are.
• Me: Yeah. That’s not a pleasant thought. But it is reality, I suppose.
• Mother Earth: Let’s talk about cars.
• Me: I sold mine and bike to work!
• Mother Earth: That’s great. But, you still have one that you share. And it’s getting old.
• Me: Indeed. 12 years and 180K miles. I’ve done my part, right?
• Mother Earth: No other invention has hurt me more.
• Me: Aye.
• Mother Earth: Stay close to work and keep riding your bike. Hopefully your wife can work closer to home and do the same someday. In the meantime, ride that piece of crap until it begs for mercy. Then fix it and ride it some more. And if you ABSOLUTELY (and I really mean absolutely) must replace it, replace it with the most fuel efficient used vehicle you can find.
• Me: Having no car might create some inconveniences.
• Mother Earth: $60 and increasing fuel-ups, insurance, maintenance, accidents, flat tires, and allocating 10%+ of your paycheck to leasing or paying it off creates a few inconveniences as well.
• Me: When you put it that way…
• Mother Earth: And finally – spread the words that we are sharing here today. Make it your lifestyle. Embrace it. And then go out and be a role model for others. Not only will you save a TON of money, but you will liberate yourself from stuff and be living a happier, healthier life. You will be joining a counter-consumer movement that is gaining strength. It’s a movement that will have to be adopted by everyone if your kind and every other species you share me with are to survive. Along the way you will encounter soul-less, heart-less, hateful f$%rs who claim no responsibility for their behavior. Be patient, teach, and stay on course.
• Me: I will start today. My apologies cannot express the amount of regret I have about how irresponsibly I have lived. Thank you for the life and the health you have given me. I owe it to you. We all do.

Consumers Need 12-Step Programs Too: My Counseling Session with Mother Earth is copyrighted by 20somethingfinance.com without consent to republish.

2010 bike sales were up 15% over 2009, and the number of bikes sold with wheel sizes over 20″ (adult bikes) was the second highest in the last 20 years.

A few years ago I decided to sell off my car. I started busing, then made the move to biking to work.

I bike a little over two miles each way to and from work from May through November annually now. I then take the local bus line in the winter months.

And I absolutely love it.

So much so, that no matter where I work in the future I will make sure that I live just a short, bike-friendly route away. Here are 5 reasons why I love it and you probably will too if you just give it a shot.

1. Low Maintenance

Many local bike shops teach free bike maintenance 101 courses. And once you’ve changed a flat tube, replaced your bike paid or done any other maintenance on your bike, anyone can do it. It pays to have a good local bike shop to buy from if you are buying new vs. buying from a big box store – they put them together better, usually have a number of free tuneups, and are much more knowledgeable.

2. It’s Great Exercise

You can burn anywhere from 35-70 calories per mile biking, depending on your weight and how fast you are biking. At my speeds, weight and distance, I figure that I’m burning about 250 calories per day just going to and from work. Calories burned in my car? Probably less than 5. Here is a biking calorie calculator to plug in your own metrics.

In the 15 minutes it takes me to do the trip, I’ve burned as many calories as I would if I went to the gym to run on a treadmill a few miles. And instead of an hour or more to go to the gym, I’ve done it in 15 minutes. And it was a hell of a lot more fun. Which brings me to my next point.

3. It’s Fun

Remember when the training wheels came off for the first time on your first real bike and you felt like you could fly? Me getting out there again and a mini obsession with the Tour de France (I’ve watched all 21 stages over the past few years – congrats Cadel!) – has led to me re-discovering that child-like love of biking that I missed for a lot of years in between.

If you haven’t ridden a bike in years, that fun factor will hit you again – I guarantee it.

4. It’s a Great Stress Relief

I have a high stress, high pressure day job. That stress builds up during the day and by the time I get home, I’m pretty wound up. I really look forward to getting on that bike and going as fast as I can to burn off that stress. By the time I get home, I’m re-invigorated. It works every day. I’m usually not that fun to be around in the winter when I don’t have this outlet.

5. It’s a HUGE Cost Savings

Minus $6 tubes when you get a flat or $6/pair brake pads, the ongoing costs of bike ownership are almost nothing. Start-up costs are comparitively dirt cheap too. If you don’t have a bike, you can get yourself a very nice one for a few monthly car payments or get yourself a “project” on Craigslist for $10 or sometimes free and fix it up.

I’ve talked a lot about the cost savings of biking vs. driving. I had a relatively inexpensive used car that got over 30 mpg, yet I was able to save over $5,000 a year in making the move to a bike. And I think that’s probably on the low end of what most would actually save when you factor in monthly payments, fuel, insurance, maintenance, and parking.

It’s one of those things that is hard to put a number on. However, I was recently made aware of an awesome biking vs. driving calculator so you can plug in your own numbers. And believe it or not, over a lifetime, you could literally save $1M or more (no joke) in making the move. That doesn’t surprise me – cars are the biggest cash drain of anything you could possibly own – even more than a home if you look at total cost.

Ride a Bike to Work Steps

Get out your bike, tune it up, and give it a shot. Try riding your bike to work once next week to see what you think. Then try twice a week, then an entire week. You might be surprised how much you don’t want to give it up. And if it works out – why not sell the car?

Bike to Work Discussion:

• Have you made the move to riding a bike to work?
• If so, how have you benefited?
• If not, what’s holding you back?

5 Reasons to Ditch the Car & Ride a Bike to Work is copyrighted by 20somethingfinance.com without consent to republish.

I mentioned that some states further offered additional tax incentives on top of the federal credit, which prompted a reader to ask for a list of those states.

It was a great question. Without the tax incentives these vehicles just don’t make sense economically. With them, there is a chance they could actually make you money back by saving hundreds, if not thousands a year on fuel and maintenance costs. And if you can also sleep better at night for the added environmental benefit, why wouldn’t you?

Let’s first take a look at the federal tax credit and which vehicles can claim it.

Federal Electric Vehicle Tax Credit

Electric vehicle and hybrid tax credits are fairly straightforward at the federal level.

For starters, hybrid tax credits are a thing of the past at the federal level.

Electric vehicles are eligible for a $7,500 tax credit, with a few caveats:

1. It must be purchased in or after 2010.
2. You must be the original owner.
3. To get the full credit, the vehicle must be within the first 200,000 of that  model sold (then phase-out occurs).

You can see a full list of requirements at the Fueleconomy.gov electric vehicle tax credit site.

Now, there are even more vehicles (7 total) that qualify for the federal tax credit (if you can find them):

• Nissan Leaf (2011): $32,780 MSRP
• Tesla Roadster (2008-2011): $109,000 MSRP (keep dreamin’)
• Wheego Life (2011): $32,995 MSRP
• Smart ForTwo (2011): $44,900 MSRP
• Think City (2011): $36,495 MSRP
• Coda Sedan (2011): $44,900 MSRP
• Mitsubishi i (2012): $29,125 MSRP

Electric Vehicle Tax Credits by State

Now comes the tricky part. Each state has slightly different electric and hybrid tax credits and incentives. I’ll highlight what I was able to dig up, but you will need to do some further digging and check with your state to make sure these incentives still apply. If your state is not listed, my unearthing came up empty. If I missed something in your state, let me know and I’ll add it.

California

Rebates are available through the Clean Vehicle Rebate Project (CVRP) for the purchase or lease of qualified vehicles. Note that funds have currently been completely distributed. More funding has been requested and rebates of up to $2,500 for light-duty zero emission and plug-in hybrid vehicles has been proposed. You can get on a waiting list to be eligible if approved.

Colorado

Colorado offers up to an amazing $6,000 for plug-in electric drive vehicles and even offers credits on non-electric hybrids.

Georgia

A state of Georgia income tax credit is available for 20% of the cost to purchase or lease a new ZEV (zero emission vehicle), up to $5,000 per vehicle.

Hawaii

If you want an EV rebate in Hawaii, better act quick. Qualified Hawaii residents, businesses, government agencies, and non-profit agencies may apply for rebates for the price of EVs and EVSE through the Hawaii EV Ready Rebate Program. EV rebates are in the amount of 20% of the vehicle purchase price, up to $4,500. Rebates are available until funds are exhausted or September 30, 2011, whichever comes first.

Illinois

The Illinois Alternate Fuels Rebate Program provides a rebate for 80% of the incremental cost of purchasing an AFV including an EV, up to $4,000, or 80% of the cost of converting a conventional vehicle or a hybrid electric vehicle.

Louisiana

Louisiana offers an income tax credit worth 50% of the cost premium of an electric car, plug-in hybrid, or converting a vehicle. A taxpayer may instead take a tax credit worth 10% of the cost of the motor vehicle or up to $3,000, whichever is less. Similar credits are available for charging equipment installation. (Reference House Bill 110, 2009, and Louisiana Revised Statutes 47:6035)

Maryland

All-electric (EVs) and plug-in hybrid electric vehicles (PHEVs) are eligible for a tax credit of up to $2,000 against the imposed excise tax. The tax credit is limited to one vehicle per individual and 10 vehicles per business entity. The vehicle must be purchased between October 1, 2010, and July 1, 2013. Check out the Maryland DOT site for more.

Montana

A tax credit of up to $500 is available for electric car conversions. Yeah, that probably won’t make much of a dent.

New Jersey

Zero-emission vehicles sold, rented, or leased in New Jersey are exempt from state sales and use tax. This exemption is not applicable to partial zero emission vehicles, including hybrid electric vehicles. The New Jersey DOT has more info.

Oklahoma

For tax years beginning before January 1, 2015, a one-time income tax credit is available for 50% of the incremental cost of purchasing a new original equipment manufacturer AFV or converting a vehicle to operate on an alternative fuel. The state also provides a tax credit for 10% of the total vehicle cost, up to $1,500, if the incremental cost of a new AFV cannot be determined or when an AFV is resold, as long as a tax credit has not been previously taken on the vehicle. Equipment used for conversions must be new and must not have been previously used to modify or retrofit any vehicle. The alternative fuels eligible for the credit are compressed natural gas, liquefied natural gas, liquefied petroleum gas, hydrogen fuel cell, and electricity. Hydrogen fuel cell vehicles are eligible through December 31, 2010, and only qualified electric vehicles placed into service before July 1, 2010, are eligible. For vehicles propelled by electricity only, the credit is based on the full purchase price of the vehicle. For vehicles equipped with an internal combustion engine and powered partially by electricity, such as a hybrid electric vehicle, the credit is based on the cost of the portion of the motor vehicle attributable to the propulsion of the vehicle by electricity.

South Carolina

South Carolina residents that claim the federal fuel cell, advanced lean burn, hybrid electric vehicle, or alternative fuel vehicle tax credit are eligible for a state income tax credit equal to 20% of the federal credit.

Utah

Utah provides an income tax credit of 35% of the vehicle purchase price or $2,500, whichever is less, for an original equipment manufactured compressed natural gas vehicle registered in Utah. Other new clean fuel vehicles that meet air quality and fuel economy standards may be eligible for a credit of up to $750. The state also provides a credit of 50% of the cost of converting a vehicle to operate using a clean fuel (including propane, natural gas, or electricity), up to a maximum of $2,500 per vehicle.

Washington

New passenger cars, light-duty trucks, and medium-duty passenger vehicles that are dedicated AFVs are exempt from the state motor vehicle sales and use taxes. Qualified vehicles must operate exclusively on natural gas, propane, hydrogen, or electricity.

West Virginia

West Virginia (surprisingly) just enacted some of the best AFV incentives in the country. Effective July 1, 2011, an income tax credit is available to eligible taxpayers who convert a vehicle to operate exclusively on an alternative fuel or purchase a new original equipment manufacturer dedicated or bi-fuel AFV. The value of the tax credit is 35% of the vehicle purchase price or 50% of the vehicle conversion cost, up to $7,500 for vehicles with a gross vehicle weight rating (GVWR) up to 26,000 pounds (lbs.) and up to $25,000 for vehicles with a GVWR greater than or equal to 26,000 lbs. For the purpose of this tax credit, a qualified AFV operates on fuel including natural gas, propane, electricity, hydrogen, and coal-derived liquid fuels. Plug-in hybrid electric vehicles are also eligible.

Let me know if I missed anything!

Electric Vehicle Tax Credit Discussion:

If you live in one of these states are these incentives, matched with the federal credit enough to make you consider an electric vehicle purchase?

Related Posts:

• Chevy Volt Vs. Nissan Leaf
• 2012 Energy Tax Credit
• Tesla Roadster
• Who Keeps Killing the Electric Car?

Electric & Hybrid Tax Credits by State is copyrighted by 20somethingfinance.com without consent to republish.